Maseco LLP Buys Shares of 556 Ameriprise Financial, Inc. $AMP

Key Points

• Maseco LLP acquired a new stake in Ameriprise Financial, Inc. by purchasing 556 shares valued at approximately $297,000 during the second quarter.
• Several large investors, including JPMorgan Chase and UBS Asset Management, significantly increased their stakes in Ameriprise Financial during the first quarter, highlighting strong institutional interest with 83.95% of the stock held by institutional investors.
• Ameriprise Financial's stock received mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $534.71, reflecting varying expectations for the company's performance.

Maseco LLP bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 556 shares of the financial services provider's stock, valued at approximately $297,000.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock valued at $1,086,724,000 after purchasing an additional 796,925 shares during the period. GAMMA Investing LLC lifted its position in Ameriprise Financial by 49,248.9% during the 1st quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock valued at $1,023,461,000 after purchasing an additional 2,109,824 shares during the period. Goldman Sachs Group Inc. lifted its position in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider's stock valued at $578,852,000 after purchasing an additional 266,631 shares during the period. Finally, Nuveen LLC acquired a new position in Ameriprise Financial during the 1st quarter valued at about $469,334,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMP shares. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley downgraded shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Finally, William Blair downgraded shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $534.71.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $493.65 on Wednesday. The business has a 50 day simple moving average of $509.20 and a 200 day simple moving average of $501.66. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $46.54 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.05 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the business earned $8.72 EPS. Ameriprise Financial's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is presently 19.91%.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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